TWO AMERICAS

U.S. economy leaving record numbers in severe poverty
By Tony Pugh
McClatchy Newspapers
Posted on Thu, Feb. 22, 2007

WASHINGTON - The percentage of poor Americans who are living in severe poverty has reached a 32-year high, millions of working Americans are falling closer to the poverty line and the gulf between the nation's "haves" and "have-nots" continues to widen.

A McClatchy Newspapers analysis of 2005 census figures, the latest available, found that nearly 16 million Americans are living in deep or severe poverty. A family of four with two children and an annual income of less than $9,903 - half the federal poverty line - was considered severely poor in 2005. So were individuals who made less than $5,080 a year.

The McClatchy analysis found that the number of severely poor Americans grew by 26 percent from 2000 to 2005.

THE OTHER AMERICA:

Ousted Home Depot (Charts) CEO Robert Nardelli, for instance, received a $210 million severance package earlier this year - despite the retailer's slumping stock -and former Pfizer (Charts) CEO Hank McKinnell received a $180 million package even after being forced into early retirement.